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WHEREAS, public infrastructure impacts United States residents throughout their daily life and includes roads, railroads, bridges, water supply and treatment, sewage treatment, dams, stormwater collection, and public parks, and;
WHEREAS, our nation's spending on infrastructure has fallen to its lowest level in 70 years, down to 2.5% of our nation's GDP, which is half the comparable level in Europe and one-third the level in China, and;
WHEREAS, infrastructure development needs careful planning and a reliable source of long-term funding in order for it to succeed, and;
WHEREAS, The American Society of Civil Engineers estimates in its 2017 report that $4.6 trillion is needed just to repair the nation's existing infrastructure, and;
WHEREAS, the COVID-19 pandemic has created a recession leading to more budget shortfalls, making it unlikely that adequate infrastructure financing will come from the federal budget, and;
WHEREAS, expanded investment is needed in new manufacturing centers, affordable housing, broadband access, science and technology drivers, to accommodate population growth and migration, and for other improvements in urban, and low-income areas that the private sector does not currently serve, and;
WHEREAS, the creation of national banks have resulted in the availability of funds for critical infrastructure projects, and led to increased productivity, economic and job growth in at various points in our nation's history, and;
WHEREAS, legislation has been introduced into the United States Congress to create a $4 trillion National Infrastructure Bank through House Bill HR 6422 introduced by Representative Danny Davis (D-IL) on March 31, 2020, and;
WHEREAS, The purpose of a National Infrastructure Bank shall be to facilitate efficient, long-term financing of infrastructure projects, business and economic growth, and new job creation in the United States, and;
WHEREAS, The establishment of a United States public deposit money bank would p...
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